JCPenney CEO’s Work Ethic Called Into Question

Johnson spends three or four days per week at the office

   

JCPenney CEO’s Work Ethic Called Into Question

RonJohnson JCPenney CEOs Work Ethic Called Into QuestionIn addition to all the other challenges that JCPenney‘s (NYSE:JCP) CEO Ron Johnson faces, now his work ethic is being criticized.

People inside JCPenney saying he’s in the office only a few days per week, reports The New York Post. He commutes by jet to the company’s Plano, Tex., location from his home in California.

While at the office, Johnson stays at the Ritz-Carlton hotel, on the company’s dime. Penney’s last two CEOs both set up permanent residence in Texas while in charge of the department store chain.

The shortened schedule may be spreading. According to one supplier, the rest of the staff is cutting their hours, too. “They used to be in the office at 7:30 in the morning, and they’d be calling you to get things done. Now, they’re rolling in at 8:30 or 9. If I got a 9:30 meeting with them, I’d be shocked,” said the anonymous executive.

Johnson has announced plans to lay off as much as 10% of the company’s workforce this month.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/02/jcpenney-ceos-work-ethic-called-into-question/.

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